OREANDA-NEWS. Al Khaliji Commercial Bank (Al Khaliji) announced the resolutions of General Assembly on 23 February 2016 approved the following:-

 Agenda of the Annual General Assembly :

1)    Approved the Board of Directors’ report on the Company’s activities and its financial position for the year ended 31 December 2015 and the Company’s future plans

2)    Approved the External Auditor’s Report on the Company’s financial position and the accounts submitted by the Board of Directors for the year ended 31 December 2015

3)    Discussed and approved the Company’s financial statements and income statement for the year ended 31 December 2015

4)    Approved the proposal of the Board of Directors regarding the distribution of cash dividends in the rate of 10% of the share nominal value (QAR 1 per share) for the year ended 31 December 2015

5)    Absolved the Board members from any liability and fix their remuneration for the financial year ended 31 December 2015

6)    Approved the Corporate Governance Report for the year 2015

7)   Re-appointed Ernst & Young as the External Auditor of the Company for the financial year 2016 and fixed their fees

Agenda of the Extraordinary General Assembly :

1)    Approved the Bank’s amended Articles of Association (AoA) for the purpose of Item 2 below and in order to address the Bank’s statutory requirement to comply with the provisions of the Commercial Companies Law No. 11 of 2015 and to adopt the Unified Template of Articles of Association of Qatari Public Shareholding Companies as issued by the Ministry of Economy and Commerce and authorize the Chairman of the Board and/or Vice Chairman and/or  whomever the Board may delegate in order to complete the required formalities subject to necessary regulatory approvals;

2)  Approved the issuance of capital instruments that qualify as Additional Tier 1 Capital up to a maximum amount of QAR 2,000,000,000 (Qatari Riyal two billion) in accordance with Basel III and the Qatar Central Bank’s requirements and to authorize the Board of Directors of the Company or whomever the Board may delegate to determine the volume, size,timing, pricing and other dates and terms and conditions. These capital instruments can be issued directly by the Bank or through a Special Purpose Vehicle under the guarantee of the Bank. And to authorize the Board of Directors to privately place such instruments, approve the final amount, the currency and the detailed terms and conditions of such Additional Tier 1 Capital instruments and obtain the necessary approvals from related regulatory authorities.